Egyptian security forces have seized illegal foreign currency trading cases worth approximately 22 million Egyptian pounds within a 24-hour period, authorities confirmed on Thursday.
The Ministry of Interior said the operation was carried out through coordinated efforts between the Public Security Sector, the General Administration for Combating Financial Crimes, and local Security Directorates across the country.
Legal measures have been initiated against those involved.
The Ministry highlighted that these actions are part of a broader campaign to tackle illegal currency trading and speculation, practices that involve concealing foreign currency from official circulation and trading it outside regulated banking channels.
Officials emphasized that such activities undermine the stability of Egypt’s national economy and disrupt financial markets.
“Crimes of illegal foreign currency trading and currency speculation have serious repercussions on the national economy. Our ongoing operations aim to protect citizens and maintain economic stability,” a Ministry statement said.
Economic analysts note that Egypt’s foreign exchange market has faced significant pressures in recent years, with authorities implementing strict regulations to curb black-market activity. Despite these measures, illegal trading persists, often leading to inflated exchange rates and undermining public trust in official channels.
The Ministry’s announcement comes amid continued efforts to safeguard Egypt’s financial system, stabilize the Egyptian pound, and ensure transparency in currency transactions. Authorities reiterated their commitment to monitoring foreign exchange activities closely and taking swift action against offenders.
This recent seizure marks one of the largest single-day crackdowns on illegal currency trading in recent months, signaling heightened enforcement and vigilance by security agencies.
Observers say such measures are intended to reinforce confidence in Egypt’s banking system while discouraging black-market trading.
As legal proceedings move forward, authorities have called on the public to report suspicious foreign exchange activities and support efforts to protect the country’s economic integrity.
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